Download User Guide - Berkeley Futures Limited

Trading With J-Trader
Order Type
[order type] FOK
Market
MIT!
MktTLmt
MOO
OCOLmtStp!
Protect!
RFQ
Rsvd Qty
Stop!
StopLimit
Definition
Order that is executed against any existing orders at the stated price or better, up to the
volume of the order. Any residual volume from this order is then immediately cancelled
(killed).
(Limit Fill Or Kill)
Order that is either completely filled at a specified price (or better), or cancelled (killed)
by the exchange.
Order that is executed immediately, at the best price obtainable when the order reaches the
exchange.
(Market If Touched)
Similar to a limit order in that a specific price is placed on the order. However, a synthetic
MIT order becomes a market order once the limit price is reached (‘touched’). A buy MIT
is placed below the market price and a sell MIT is placed above the market price.
Market order with a limit (specified as a maximum number of ticks the price can move),
for those exchanges that do not allow market orders.
(Market On Open)
Market order that is automatically submitted when the market opens and filled at the
market price.
(One Cancels Other / Order Cancels Order)
A two-leg order (stop vs.limit) where the profit target is set with a limit order, while a stop
order provides protection from losses.
Like a Bracket# order, except that you can set up to three levels for your profit target (but
only before the trade is initiated).
(Request for Quote)
A request, sent to market makers, for a quote for an contract that currently has no price.
For Chicago Mercantile Exchange Eurodollar contracts (CME_E$) only, you have
instead:
RFQI: RFQ, indicative price
RFQT: RFQ, tradable price
Like an iceberg order (see above), except that you can’t use random clip sizes.
Order used to:
Minimise a loss on a long or short position.
Protect a profit on an existing long or short position.
Start a new long or short position.
A buy stop order is placed above the market and a sell stop order is placed below the
market.
Order that lists two prices, one a stop price and the other a limit price, to gain more
control over the price at which the order is filled. Once the stop is triggered, the order is
not filled beyond the limit price.
Timed [order type] Same as its non-timed equivalent, except that it is sent at a preset date-time.
TimeSlice!
Execution of a large order in smaller clips over a specified period of time, requiring
selection of either the clip size or time interval.
© Patsystems Ltd 31/05/2011 15:19:00 29